NAMISHABEN M.SHAH Vs. RAINBOW INDUSTRIES PRIVATE LIMITED

JUDGEMENT

(1.) By present OJ Appeal under Section 483 of the Companies Act, 1956 , the appellants have placed under challenge order dated 12.3.2007 passed by learned Company Court in Company Application No.576 of 2006 in Company Petition No.249 of 1996, whereby the learned Company Court dismissed the application for the reasons mentioned in the decision, more particularly in paragraph No.7 of impugned judgment.

(2.) So far as the factual backdrop is concerned, the appellants have narrated below-mentioned details.

(3.) Other relevant details and submissions by the contesting party before learned Company Court are summarised by the court in paragraphs 1 to 3 of impugned judgment, which reads as under:-